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The need for a companion is the main force driving the pet care market to grow

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DUBLIN, January 3, 2023 /PRNewswire/ — The “North America Pet Care (Food Grooming Accessories & Healthcare) Market Outlook 2027” report has been added to from ResearchAndMarkets.com offer.

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According to this report, the market was valued at around $64 billion in 2021. Additionally, the North American market is expected to grow at a CAGR of over 3.5% during the forecast period.

North America is the largest region in the global pet care market. North America The pet care market is strongly supported by the dynamic growth and revenue generated by countries like the UNITED STATES, Mexicoand Canada.

Currently, technology is also impacting the pet care industry in the region. One of the trends in the market is dedicated pet apps, which are specially developed for pets. It allows pet owners to keep track of their pets’ health habits, nutritional intake, and playtime.

The need for a companion is the major force driving the pet care market to grow. The North American pet care market is currently a booming market. Pet care services such as grooming, training, and adoption are becoming increasingly popular. In this regard, millennials play an important role in pet adoption because they view pets as humans and want to care for and support them.

Pet food is the largest segment of North America take care of an animal. The growing interest in healthy, nutritious and organic foods has been seen as a major trend in the market. The North American pet food market has grown significantly over the historical period where dog and cat food revenues have been highest.

The region’s pet services segment, such as healthcare, accessories, and grooming products, has shifted consumers’ attention to providing pets with new, aging facilities. Today, pet owners are more inclined to take utmost care of their pets, which has resulted in consumer appeal for pet grooming services. For such a growing attraction, the grooming segment of the pet services industry has seen the fastest growth in history and will continue to show the same trend in the years to come.

The growth assessment of the North American pet grooming market includes the analysis of Canada and United States. In United States, dogs are the most popular pets. According to the AVMA (American Veterinary Medical Association), more than 76 million companion dogs are cared for by 48 million households.

Other favorite animals include reptiles, rabbits, and fish. Fish is the third most popular pet in the country, with nearly 12% of households having at least one fish. Additionally, according to a Reptile Cove survey, there are 9.4 million pet reptiles in the United States, with every household owning a reptile or two.

Additionally, hamsters, poultry, and rabbits are also widely adopted as pets in the United States. Additionally, the presence of large pet grooming product companies, growing pet health awareness, and increasing disposable income provide opportunities for growth.

A growing number of consumers are embracing pet owners and pet-loving lifestyles, accelerating the trend of humanizing pets. The humanization of pets is influencing the growth of the market with an increasing number of companies engaged in launching exciting and high-end pet care products.

An increase in animal spending across the world is helping the market grow. Rising adoption of pets across the globe and growing prevalence of foodborne and zoonotic diseases are some of the factors that are further driving the market growth. Furthermore, the growth of the pet care market is mainly driven by the increasing demand for protein and other supplements in pet food and increasing preference for pet insurance.

Additionally, the growing prevalence of the COVID-19 pandemic is driving the American population in the United States to foster and adopt animals.

According to the data obtained, there are approximately more than 300 million pets in America. Additionally, the American Society for the Prevention of Cruelty to Animals (ASPCA) predicts a 70% increase in the placement of animals in New York City and Los Angeles in 2020.

Hence, the above-mentioned factors will significantly promote the growth of the North American Pet Care Market over the coming years. Additionally, the growing demand for pet insurance in the region will drive the growth of the North American pet care market.

The cost of pet care is rising with technological advancements in veterinary medicine. This can be attributed to the high costs associated with the equipment, facilities and training needed to provide these higher quality services. So, pet health insurance helps by offsetting some of the costs of treating and managing illnesses or injuries and diagnosis. Therefore, the demand for pet insurance has increased significantly in recent years.

Impacts of COVID-19:

Most of the consumers in the market faced the onset of the COVID-19 pandemic, in terms of storing pet food products, switching to online retail platforms after being constrained by several restrictions imposed on physical stores. and disruption of the global supply chain in general. However, major players have shifted their focus from retail stores to e-commerce platforms by increasing their investments in developing their websites. So, this pandemic has not affected the market much.

Major companies in the market

Nestle SA, Mars Incorporated, Colgate-Palmolive, JM Smucker, Blue-Buffalo, Champion Pet Foods, United Pet Group, a Spectrum Brands company, PLB International, Scott Pet, Inc., Unicharm Corporation, Laroy Group, Well Pet

Considered in this report

  • Geography: North America

  • Historical year: 2016

  • Base year: 2021

  • Estimated year: 2022

  • Forecast year: 2027

Main topics covered:

1. Summary

2. Report methodology

3. Market structure
3.1. Market Consideration
3.2. Market definition

4. Economic/demographic overview

5. Global Pet Population Analysis

6. Global Pet Care Market Outlook
6.1. Market size by value
6.2. Market share
6.2.1. By region
6.2.2. By country
6.2.3. By company
6.2.4. By type of segment
6.2.5. By sales channel

7. Global Pet Food Market Outlook
7.1. Market size by value
7.2. Market share
7.2.1. By region
7.2.2. By country
7.2.3. By type of food
7.2.4. By type of animal
7.2.5. By ingredients

8. Global Pet Healthcare Market Outlook
8.1. Market size by value
8.2. Market share
8.2.1. By region
8.2.2. By country

9. Global Pet Accessories Market Outlook
9.1. Market size by value
9.2. Market share
9.2.1. By region
9.2.2. By country

10. Global Pet Grooming Market Outlook
10.1. Market size by value
10.2. Market share
10.2.1. By region
10.2.2. By country

11. North America Pet Care Market Outlook

12. Policy and regulatory landscape

13. Market Dynamics
13.1. Market factors
13.2. Market challenges

14. Market trends and developments

15. Competitive landscape
15.1. Carriers five forces
15.2. Company Profiles

16. Strategic Recommendations

17. Disclaimer

For more information about this report visit https://www.researchandmarkets.com/r/vc4nop

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SOURCE Research and Markets

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